Euro Stoxx 50: Resistance At 3584/87 Is Main Challenge For Bulls
Jason Sen | Nov 22, 2017 03:29AM ET
Euro Stoxx 50 resistance at 3584/87 is the main challenge for bulls this week and has held perfectly...but a break higher is therefore a good buy signal and puts bulls firmly back in control for 3597/99 then 3607/10 and probably as far as 3625/30 in to next week.
Failure to beat strong resistance at 3584/87 targets first support at 3573/70, perhaps as far as 3560/57. Further unexpected losses risks a retest of strong support at 3525/20 but expect even stronger support at 3495/90 so be prepared to average in to longs down here. A good chance the bull trend will resume from here.
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